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Daily Markup #567: Merkle Science secures US$19M to filter out creeps in crypto with proprietary blockchain technology

Ching Yee Ho



Credit: DealStreetAsia

Filtering out creeps in crypto

  • Cryptocurrency may seem like risky business, but innovative companies are offering new ways to protect and minimize what investors put on the line.
  • One of them is 500-backed startup Merkle Science. Founded in 2018, the company aims to help crypto companies, financial institutions, and government entities detect, investigate, and prevent illegal activities involving cryptocurrencies.
  • Merkle Science just raised a US$19M Series A, bringing the total raised so far to over US$24M.
  • Their proprietary blockchain technology goes beyond vetting through blacklists — they even detect illicit activity from incoming and outgoing cryptocurrency transactions!
  • The tool also helps regulators understand the risks across all types of crypto businesses, stay on top of emerging technologies, and keep pace with the industry’s increasingly complex illicit activities.
  • Co-Founder & CTO Nirmal Aryath Koroth said, “We are planning to extend the capabilities of our compliance-first predictive crypto risk and intelligence platform to support clients in the DeFi and NFT sectors by de-risking liquidity pools, monitoring smart contract calls, and extending support to a huge range of NFT tokens and collections. We will also be focusing on automating cross-chain analytics enabling our customers to conduct investigations seamlessly across multiple blockchains and more.”
  • The fresh funds will be used to accelerate the company’s global growth, invest in R&D, and extend the capabilities of their unique predictive crypto risk and intelligence platform.
  • Read the full story on DealStreetAsia.

Ching Yee Ho